House hacking elderly-how to buy home lived in but also rents out

[Keith Sawade]

I currently know of two homes that the owner has turned there large home into a multy family apartment nits, while still living in another (house hacking). One is a three unit which i think would be easier to make the numbers work than on the other which is a two unit. With our aging population I can see a huge opprotunity to purchase these homes but need to figure out a pricing strategy that can be used to buy them preferably on a land contract while letting owners continue to live in them. They do not want to move, they do not want to continue to maintain these homes but would like to have access to the cash. I know in Europe they purchase property (I believe at a discounted rate) from owners knowing that they cannot move in until the owner is deceased. I have read this is a practice used because of the limited availability of real-estate in there country. I have heard of some situations where older former owner turned tenant out living younger new owner.   I have come up with a few ideas but would love to hear the thoughts of the BP listens.